On April 8th, Taiga Gold (TGC.C) received the final order from the Court of Queen’s Bench in Alberta, allowing the plan of arrangement with SSR Mining (SSRM, SSRM.TO) to go ahead. The transaction has now closed and the shareholders of Taiga Gold will soon see the C$0.265 cash consideration per share pop up in their accounts. The shares of Taiga Gold will obviously be delisted.
Seeing this deal close is also good news for Eagle Plains Resources (EPL.V), the company that originally spun off Taiga Gold. Eagle Plains owns just over 12 Million shares in Taiga Gold and will see in excess of C$3M in cash hitting its bank account. This should boost the Eagle Plains working capital position to approximately C$10M, which is almost C$0.10 per share.
Disclosure: The author has no position in Taiga Gold. Taiga is a sponsor of the website. Please read our disclaimer.
